Trace for Good announces a 3.5 million euro funding round

Trace for Good, a French company specialising in supply chain traceability for consumer goods, has just announced a funding round of 3.5 million euros. The deal was led by Hi inov-Dentressangle and Ankaa Ventures, joined by CS Ventures and existing investors such as Seed4soft. The aim of this funding is to accelerate the development of Trace for Good's software and to strengthen its commercial expansion in international markets. The company is answering the growing requirements around corporate social responsibility (CSR), such as those imposed by the French AGEC law, along with the expectations of consumers who want fuller and more reliable product information.

Founded in 2022 by Léa Gillet and Laura Bréban, Trace for Good helps companies optimise the management of their traceability and compliance data through an innovative SaaS platform. The platform centralises product and supplier data provided all along the supply chain. It makes it easier to manage and verify information and documents relating to compliance, risk management and the reduction of social and environmental impact, establishing a climate of trust between the brand, its suppliers and its customers.

The Trace for Good solution rests on two distinct platforms:

• The client platform, aimed at brands and distributors, lets them track the traceability of their products along the supply chain, from the finished product back to the original raw materials. Through intelligent data flows, it centralises and validates information coming from suppliers, external databases or recognised certifications.
• The traceability platform, dedicated to suppliers, invites them to enter the data their clients require and to share their answers across clients. This platform uses artificial intelligence to pre-fill information as far as possible, detect inconsistencies and guarantee the accuracy of answers, simplifying data collection through customised interfaces.

Trace for Good is currently active in the textile sector in France, with clients such as IKKS, Fusalp and Courir. Thanks to this funding round, the company is preparing to extend its activities to other consumer goods segments and across Europe, drawing in particular on strategic partnerships with players such as Intertek, a global leader in certification and quality assurance.

Trace for Good's growth is helped along by the rising number of suppliers using the platform, which encourages other brands to join the ecosystem. That dynamic creates a virtuous circle of high-quality data aggregation, allowing greater collaboration within supply chains and so making it easier for new sustainable models of production and consumption to emerge for brands and, ultimately, for consumers.

"Through our platform, we let brands achieve total supply chain traceability while considerably reducing the manual effort of collecting and verifying data, both for them and for their suppliers," said Léa Gillet, co-founder of Trace for Good. "With this funding round we are going to accelerate our commercial growth, but also strengthen our technology leadership to meet the growing need for traceability."

Valérie Gombart, co-founder and managing director of Hi inov, commented: "Trace for Good is positioned in a fast-expanding market. Regulatory pressure in Europe is pushing brands to equip themselves with solutions that guarantee the traceability and compliance of their products. We are delighted to back this mission-driven company and to support the team in its ambitious European expansion project. This investment fits perfectly with our wish to give climate tech a large place in the portfolio of our new vehicle Hi inov 3."

Source: https://www.jaimelesstartups.fr/news/trace-for-good-annonce-une-levee-de-fonds-de-3-5-millions-e/